• About UGM
  • SIMASTER
  • SINTESIS
  • Public Information
  • SDGs
  • English
    • Bahasa Indonesia
    • English
Universitas Gadjah Mada Universitas Gadjah Mada
Faculty of Economics and Business
  •  About Us
    • Overview
    • History of The Establishment
    • Mission & Vission
    • School Values
    • School Leadership
    • Senate Leadership
    • Department Leadership
    • Study Program Leadership
    • Unit Leadership
    • Faculty Advisory Board
    • Annual Report
    • Campus Facilities
    • Visual Identity
    • News Room
    • The 70th Anniversary
  • Academic Programs
    • Undergraduate Program
    • Master Program
    • Doctoral Program
    • Profession Program
    • Short Academic Programs
    • Professional Programs & Certification
    • International Undergraduate Program
    • International Doctorate in Business (IDB)
    • Academic Calendar
    • Rooms and Events
  • Faculty & Research
    • School Memberships
    • School Accreditation
    • International Networks
    • Faculty Members
    • Visiting Professor & Research Fellows
    • Professional Staffs
    • Publications
    • Published Journals
    • Working Papers
    • Fields of Study
    • Supporting Units
    • International Conference Partnership
    • Call for Papers
    • Community Service
    • Faculty Library
  • Admission
  • Home
  • Achievement

Two FEB UGM Student Teams Achieve Achievements in the 2023 INFEST Equity Research Competition

  • Achievement
  • 19 September 2023, 14.44
  • By : Admin
INFEST ERC 2023

The Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM) has again received delightful news. Two teams consisting of FEB UGM undergraduate students have achieved remarkable success in the INFEST (Investment Festival) – Equity Research Competition 2023, an annual event organized by the Study Group of Economics and Capital Markets at the Institut Teknologi Bandung (KSEP ITB). The competition aims to encourage Indonesians to invest and learn more about economics and capital markets.

The two teams are as follows:

  • Fly Fellas Team, consisting of Alif Hasan Ramadhan (Accounting 2022), Javier Fawwaz Rizqullah (Management 2022), and Vittorio Valero Salim (Management 2022), secured first place.
  • The Pairgrowth Team, which consists of Ali Alexander (Management 2021) and Elsa Firlyani (Property Management and Valuation SV 2021), achieved third place.

The theme of INFEST 2023 was “Investing in Indonesia’s Future: A New Era of Opportunities,” providing a guide to the general public about investment sectors that could become new opportunities for welcoming future investments in Indonesia. The competition consisted of two stages: a preliminary stage involving the submission of papers and a final round of presentations. In the initial stage, participants were required to analyze stocks to test their sharpness in examining a company’s fundamentals.

The Fly Fellas Team chose to analyze the stock of INKP (PT Indah Kiat Pulp & Paper, Tbk.) in their paper. According to Alif, the team leader, they found the company’s field of business, which involves manufacturing pulp and paper products and their derivatives, is quite interesting. The Fly Fellas Team was intrigued to discuss the prospects and strategies of the company in facing complex global conditions, especially those related to climate change and digitization in all fields. “We conducted in-depth research and analysis of Indonesia and Asia’s macroeconomic conditions, the pulp and paper industry, the company’s ESG implementation, and financial analysis and valuation of the company’s stock,” he explained.

On the other hand, the Pairgrowth Team comprehensively analyzed a stock from MAPI (PT Mitra Adiperkasa, Tbk.) using the top-down approach method. Ali, representing the Pairgrowth Team, stated, “In our analysis, we considered macroeconomic aspects, industry, company profile, competitive advantages, general and specific risks, finances, valuations (DCF, DDM, and multiple valuation), and technical analysis. A comprehensive and in-depth approach helped us understand MAPI comprehensively.”

Their stock analysis papers successfully propelled both teams to the final round, among the five groups with the highest scores. On Saturday (02/09), these five teams presented their findings offline at ITB in front of the judges. “We engaged in a dialogue with the judges about the validation of our research and analysis, such as the pulp and paper business risks, the basis of DCF valuation, and others,” Alif recalled. Ali also shared his experience in the final round, stating, “During the presentation session, not only were our analytical skills tested, but also our persuasion skills and public speaking abilities were put to the test.”

The announcement of the winners took place during the same event. Thanks to their sincere efforts, the Fly Fellas and Pairgrowth teams proudly brought home the first and third-place trophies. “With this proud achievement, we hope to inspire FEB UGM students to continue excelling, especially in competitions,” said Alif on the team’s behalf. On the other hand, as a closing message, Ali advised FEB UGM students to stay enthusiastic about achieving excellence: “We must be consistent as lifelong learners.”

Congratulations to the Fly Fellas and Pairgrowth teams for their outstanding achievements!

Reportage: Adella Wahyu Pradita and Rizal Farizi

Views: 230

Related Posts

PEOPLE PLEASER

Why Being a People Pleaser Can Harm Your Mental Health

News Friday, 3 October 2025

In university life, students are often faced with various choices, ranging from invitations to hang out and socialize after class to sudden weekend trips.

Prof. AGUS SARTONO

MBG: Grand Ideas and Reality

Faculty Insight Friday, 3 October 2025

By: Prof. Dr. R. Agus Sartono, M.B.A.
Professor, Department of Management, Faculty of Economics and Business, Gadjah Mada University
Deputy for Education and Religion, Coordinating Ministry for People’s Welfare/Ministry of Religious Affairs of the Republic of Indonesia 2010-2014

Providing free nutritious meals, as seen in MBG, is actually a good idea, learned from the experiences of developed countries.

Novat Pugo Sambodo

FEB UGM Lecturer Highlights Economic Cost of Sugary Drinks

News Wednesday, 1 October 2025

Consumption of packaged sweetened beverages (MBDK) is not only a threat to health but also an economic burden on the country.

Ahmad Zaki

ESG Assurance: Challenges and Opportunities in Ensuring Sustainability Reporting

News Wednesday, 1 October 2025

The issue of Environmental, Social, and Governance (ESG) is gaining increasing attention in the business world. Companies are now required not only to present reliable financial statements but also to disclose their sustainability efforts and initiatives.

Latest News

  • Why Being a People Pleaser Can Harm Your Mental Health
    3 October, 2025
  • MBG: Grand Ideas and Reality
    3 October, 2025
  • FEB UGM Lecturer Highlights Economic Cost of Sugary Drinks
    1 October, 2025
  • ESG Assurance: Challenges and Opportunities in Ensuring Sustainability Reporting
    1 October, 2025
  • Tips for Maintaining Mental Health for Students
    30 September, 2025
Universitas Gadjah Mada

Universitas Gadjah Mada
Faculty of Economics and Business

Jln. Sosio Humaniora No.1, Bulaksumur, Yogyakarta, Indonesia 55281

Map & Direction
More Contact Information

Faculty Directory

  • Public Information
  • Room Management
  • Asset Management
  • Cemetery Management

Student

  • Student Community
  • Student Services
  • Career Development
  • International Exposure
  • Scholarships
  • Internships

Alumni

  • Alumni Community
  • Alumni Services
  • Tracer Study
  • Jobs & Internships
  • Scholarships

Social Media

© 2025 Faculty of Economics and Business UGM

DisclaimerSite Map

💬 Need help?
1
FEB UGM Official WhatsApp
Hello 👋
Can we help you?
Open chat
[EN] We use cookies to help our viewer get the best experience on our website. -- [ID] Kami menggunakan cookie untuk membantu pengunjung kami mendapatkan pengalaman terbaik di situs web kami.I Agree / Saya Setuju